Alta cocina marinera, ingredient-led, across three spaces on its own account: La Barra for tapas and picoteo, La Taberna for mariscadas and arroces with views over Plaza de Oriente, and the restaurant, facing the Palacio Real, where bogavante is the star. The carta is on the venue's own site.

Facing the Palacio Real, the restaurant runs three set menus: 'La Esencia', a monthly-changing menu at €65 with paired wines; 'El Corazón' at €85, the dishes of a decade chosen by Fernando and Carlos, from oysters 'a la japonesa' and cockles in Champagne to red-tuna tartare, Asturian verdinas with scallop and wild Vigo sea bass; and 'La Experiencia', a whole Spanish blue lobster of 1 to 1.2 kg served in four passes (a bisque with the boiled legs, sashimi and tempura of the tail, a poached egg with its coral, and tagliatelle in its head stock) at €85 a head. The lobster can also be done over the coals, a la menorquina, in salpicón or as a rice. The oyster list includes Solete oysters natural, in rocoto ceviche, in tempura, grilled with mandarin ponzu or in sweet chilli. There's shellfish by the piece, from Huelva white prawns to 'monster' langoustines, a caviar list from Schrenckii to Iranian Beluga, red-prawn and carabinero rices (€35.50 a head) and fish such as jigged squid, wild bluefin, monkfish and wild turbot.

The barra is the casual, Mediterranean-toned space for tapas and picoteo, from a boreal-prawn ensaladilla to white-prawn tacos and tuna tartare, plus an 'Ópera Express' carta of quick dishes timed for the intervals at the Teatro Real across the square. The taberna next door, decorated in blues and whites with ceramics, wooden chairs and marble tables in the old Madrid style, is built around mariscadas and seafood rices made with stocks from fish heads and bones, and looks out over the Plaza de Oriente. Both run from noon to midnight; the restaurant serves 13:00 to 16:00 and 20:30 to midnight. Public car parks are on the Plaza de Oriente in front of the Teatro Real and at Calle Bailén 6.